According to Daniel Katz, associate professor of law at Chicago Kent College of Law, LexPredict co-founder and ABA Journal legal rebel, we live in the golden age of open source. Since IBM launched the AI platform Watson (read our interview with IBM's swedish CTO here) many big players - Google, Baidu, Microsoft and even Apple - have followed suit and are now offering machine learning as a service, MLaaS.
- IBM did one thing, they got everybody else in the market. Machine learning as a service is the new business model, said Katz in his keynote speech at this year's Lexpo conference in Amsterdam.
He stresses that legal AI hasn't been a huge hit so far and that rule-based software is still very much the dominating type of technology. But this could change as machine learning continues to be become more accessible.
- The best is still yet to come, because the economics are about to open up substantially. If you have an idea, the time to build it is now.
Katz outlines three major implications for organizations in the business of law in his keynote speech:
Here are Richard Tromans' impressions from the event (and here are mine) along with more in-depth recaps of the talks by Marie Bernard and Daniel Katz. We'll discuss their keynotes in our next podcast episode. In the meantime, feel free to read our interview with Bernard.